Canada’s Top 3 Millionaire Makers

From Shopify (TSX:SHOP)(NYSE:SHOP) to HIVE Blockchain Technologies Ltd. (TSXV:HIVE), here are Canada’s top multibagger stocks.

| More on:
Champagne poured into a row of flutes

Image source: Getty Images.

Investing should be all about taking calculated risks and maximizing long-term returns. The best strategy is usually a rather boring one. However, it’s worth every investor’s time to take a closer look at some of the more exciting stocks floating around the exchange.

Most of these exciting, usually technology-driven, companies offer lopsided risk-reward ratios. Many of them fail spectacularly, taking hard-earned shareholder cash with them. But every once in a while, along comes a stock that can offer a return potential that’s 10, 20, or even fifty times the original investment.

Assuming the original investment is sizeable enough ($10,000 or more), these stocks have the potential to single handedly transform average investors into millionaires. In other words, a single good investment in a high-risk technology stock could more than cover for all the duds in the average investor’s portfolio.

With that in mind, here’s a closer look at some of these millionaire-makers and their potential returns over the long-term:


Trading at 34 times annual sales and nearly 20 times book value while making a loss, Shopify (TSX:SHOP)(NYSE:SHOP) may not seem like it has much room left for growth beyond its lofty valuation. However, investors often forget or fail to recognize the colossal scale of global retail and the seemingly limitless potential of e-commerce.

According to Statista, the global retail market will be worth a jaw-dropping US$28 trillion by next year. Bear in mind that much of retail is still analogue, while online shopping is still a small fraction of overall sales. According to one forecast, the global e-commerce market could reach $6 trillion by 2022, still only 21% of the overall market. 

Although it’s nearly impossible that Shopify will ever dominate this industry given that Jeff Bezos’ company is firmly in the lead at the moment, it could still snatch up a sizeable chunk of the market within the next decade. Even if the company can expand sales to 1% of the market by 2022, and trade at 10 times sales by then, its stock price could multiply 20 times over.

Lightspeed POS Inc (TSX:LSPD)

Point-of-sales technology provider Lightspeed POS Inc (TSX:LSPD) participates in a tighter niche that’s more competitive, has thinner margins and less potential than e-commerce. Despite this, Grand View Research estimates that the market for POS terminals is expanding at a compounded annual rate of 7.8% and could be worth US$108.45 billion by 2025.

Given that Lightspeed’s market capitalization is currently hovering at US$1.2 billion, it seems plausible that investors could experience a multi-fold return over the long-term.   

HIVE Blockchain Technologies Ltd. (TSXV:HIVE)

After the 2017 boom, it’s hard to deny the fact that cryptocurrencies like Bitcoin and Ethereum have the potential to create immense fortunes out of thin air in relatively short periods. However, buying volatile and unregulated digital assets directly can’t be recommended for regular investors.

Instead, crypto mining company HIVE Blockchain Technologies Ltd. (TSXV:HIVE) serves as the perfect proxy. The company has two large server farms in Iceland and Sweden that generate Bitcoin and other cryptocurrencies around the clock. A portion of the assets generated are retained by the company, which means the rising market price of Bitcoin has a direct correlation with HIVE’s listed stocks.

Bottom line

The three stocks listed in this article may not be the most stable or predictable, but they certainly have the potential to deliver at least a 10-time return on investment. Regardless of investment strategy, these exciting stocks deserve at least a closer look.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Vishesh Raisinghani has no position in any of the stocks mentioned. The Motley Fool owns shares of Shopify and Shopify. Shopify is a recommendation of Stock Advisor Canada.

More on Tech Stocks

woman retiree on computer
Tech Stocks

2 Top TSX Growth Stocks to Buy Today and Hold for 10 Years

Given their long-term growth prospects and discounted valuations, these two growth stocks could deliver multi-fold returns in the long run.

Read more »

hot air balloon in a blue sky
Dividend Stocks

3 Roaring Stocks to Hold for the Next 20 Years

Sure, there are stocks roaring upwards in the last year, but these three can claim doing it for decades.

Read more »

A chip in a circuit board says "AI"
Tech Stocks

How to Invest in Stock in Canada

Are you looking for growth from our neighbours to the south? This tech stock has it, but how can Canadians…

Read more »

Hand arranging wood block stacking as step stair with arrow up.
Tech Stocks

Better Buy in July: Passive-Income Plays or Growth Stocks?

Will July mark the beginning of an economic recovery? Should you consider investing in passive income or growth stocks ahead…

Read more »

A chip in a circuit board says "AI"
Tech Stocks

This is the Best AI Stock to Buy Right Now

When it comes to AI stocks, Nvidia stock should jump to mind. But don't forget about the absolute dominance of…

Read more »

Choose a path
Tech Stocks

BB Stock’s Dismal Earnings: I’ll Stay Away

BlackBerry Inc (TSX:BB) stock crashed after earnings. Here's why I'm still staying away.

Read more »

sad concerned deep in thought
Tech Stocks

Is the Worst Over for BlackBerry Stock?

BlackBerry stock has been burning investors' money for the last four years. Is the worst over for this stock? Here…

Read more »

Person uses a tablet in a blurred warehouse as background
Tech Stocks

1 Super Tech Stock (Besides NVIDIA) to Buy Hand Over Fist in 2024

A TSX super tech stock could deliver comparable or far better returns than the AI king across the border.

Read more »